How To Do a U.S. Bank Balance Transfer | LendingTree

• There are several ways to request a U.S. Bank balance transfer, including online or through the mobile app.
• You can get a 0% intro APR period as long as 21 months, by opening a new U.S. Bank card and transferring a balance.
• You’ll need to transfer your balance within 60 days of account opening to take advantage of an intro APR offer with U.S. Bank.
• You’ll have to pay a balance transfer fee of 3% to 5% of each balance transfer, with a $5 minimum.
• The total amount of your balance transfer plus balance transfer fees must be less than your available credit limit.
• You can’t transfer debt from one U.S. Bank account to another U.S. Bank credit card.

What you need to know before getting started

You should make a plan on how you’ll pay off your balance before you transfer it. U.S. Bank cards come with intro APR periods ranging from 12 to 21 months. Paying off your balance within this time frame will prevent you from accumulating more debt. To calculate your monthly payments, divide the total amount you owe (including the balance transfer fee) by the length of the interest-free period.

Example: For a $10,000 balance transferred to a card with a 21-month intro APR, you should pay $476.19 per month.$10,000 / 21 months = $476.19For a card with a 12-month intro APR, you should pay $833.33 per month.$10,000 / 12 months = $833.33

Tip: Setting up automated payments is an easy way to pay your full balance before the intro period ends. This can also help you avoid missing a payment, which can negatively impact your credit score. Missing a payment can result in you losing the 0% intro rate and trigger a higher penalty APR.

Learn more about what happens if you miss a credit card payment.

What is the balance transfer fee for U.S. Bank credit cards?

How to do a U.S. Bank balance transfer for new applicants

1. Find a card with an intro APR for balance transfers. Compare balance transfer offers currently available from U.S. Bank to find the best one for your needs.
2. Apply for the card online. You’ll need to provide personal information, including your name, home address, date of birth, Social Security number and total gross income.
3. Request a balance transfer. You can do this while filling out your card application, calling the number on the back of your card once it arrives, through your account online or through the U.S. Bank mobile app.
4. Keep an eye on date and transfer limits. See if there’s a deadline for transferring balances so you don’t miss out on the 0% intro APR. Most U.S. Bank cards have a 60-day transfer limit. Also, note that the total transfer amount can’t exceed your credit card limit.

How do you find 0% balance transfer offers?

• Open a new credit card: Apply for a credit card featuring introductory 0% APR offers for balance transfers. Balance transfer cards offer lengthy 0% APR on balance transfers, often as long as 12 to 21 months.
• Look for targeted promotions from your issuer: Your card issuer may send you target offers for balance transfer and other promotions from time to time for existing cards. Targeted offers may appear in your email, mail or online account.
• Call your issuer: Contact your card issuer’s customer support department to identify available balance transfer options.

How to do a U.S. Bank balance transfer for existing cardholders

If you already have a U.S. Bank credit card, you can request a balance transfer online or through the U.S. Bank mobile app. Start by logging in to your online account and follow these steps:

1. Select your credit card.
2. Online banking: Click “Account services,” then select “Balance transfer” from the payments section.U.S. Bank Mobile App: Click “Manage,” then select “Transfer a balance” within the offers section.
3. Review the offers shown. When you find the offer you want, select “Choose this offer.”
4. Choose a “payee” or enter one from the drop-down menu.
5. Enter the requested information (payee address, account number to be paid and the amount to transfer), then click “Continue.” If you’re having trouble finding this contact the financial institution’s consumer credit card service department (800-285-8585). If you have multiple payees, select “add another transfer.”
6. Review your balance transfer information, then select “View balance transfer terms and conditions.”
7. If the information is correct, click “Submit.”

You can also use the Smart Assistant with U.S. Bank’s online banking or mobile app. Just open the Smart Assistant and say, “make a balance transfer” or “transfer a balance.” The virtual assistant walks you through the balance transfer process, allowing you to use voice or text to answer questions.

• Online banking: The Smart Assistant is in the upper right corner of the page. It looks like a search bar and includes an interactive field to type in.
• Mobile app: Select the blue microphone at the top left of the screen and speak out loud or type your request.

If you don’t see an option to request a balance transfer online or through the app, you can request a transfer over the phone by calling U.S. Bank at 800-285-8585. Keep in mind, however, that balance transfers do not count as eligible credit card purchases to earn rewards.

How long will my balance transfer take?

Balance transfers with U.S. Bank can take up to 14 days to complete. This includes the time it takes to process and approve the transfer request, send payments to designated payees and deposit the transfer total to your credit card’s balance. You can check the status of your request by calling the number on the back of your U.S. Bank credit card or the consumer credit card service department number (800-285-8585).

Tip: U.S. Bank also offers a balance transfer savings calculator online and through the U.S. Bank mobile app. To use the savings calculator, follow these steps:

1. Select the card you want to transfer a balance to.2. Online banking: Choose “Account services” located to the right of “Activity.”Mobile app: Choose “Account options,” then select “Transfer a balance.”3. Online banking: Select “Balance transfer” within the “Payments” section.Mobile app: Select “Estimate your savings.”4. Enter the amount to transfer and the APR of the account you’re transferring from.5. Select “Calculate savings.” Your potential savings are shown with each offer below the calculator.

What types of debt can you transfer?

Balance transfers allow you to pay off different types of debt. U.S. Bank accepts balance transfers for:

• Credit cards: If you have existing credit card balances or cards with higher APR rates, you can transfer the balance to your U.S. Bank card.
• Debt consolidation: U.S. Bank balance transfers are also a good option if you have multiple credit card or loan payments that you want to consolidate into one account with one monthly bill.
• Loans: U.S. Bank also allows balance transfers of eligible loan products, including student loans, auto loans and personal loans.

You can’t transfer the balance of an existing U.S. bank card or loan balance to another U.S. Bank card.

Learn more about if you should get a balance transfer or personal loan.

How do you know if your card allows balance transfers?

Not all credit cards offer the ability to transfer balances. The easiest way to determine whether it’s an option is to read your card’s terms and conditions.

Your credit card’s terms and conditions provide information on various details, including promotional offers, APR ranges and card fees. If your card allows balance transfers, the offer would be listed towards the top of the terms and conditions, like so:The terms and conditions list introductory APR offers, including the offer length, balance transfer fee and the ongoing APR after the offer period ends.

Compare U.S. Bank balance transfer cards

Is a U.S. Bank balance transfer a good idea?

A U.S. Bank balance transfer is a good idea if you’re struggling to pay off large amounts of high-interest credit card debt. U.S. Bank offers a few cards with long intro APRs on balance transfers. For example, the U.S. Bank Visa® Platinum Card has a 0% intro APR for 21 billing cycles on Balance Transfers, then 18.24% - 29.24% (Variable). This gives you plenty of time to pay down your debt while saving hundreds to thousands of dollars in interest charges. Consolidating debt onto one credit card is also a great way to easily monitor and manage your payments in one place.

The information related to the U.S. Bank Visa® Platinum Card, U.S. Bank Cash+® Visa Signature® Card, U.S. Bank Altitude® Go Visa Signature® Card, U.S. Bank Altitude® Connect Visa Signature® Card, Wells Fargo Active Cash® Card, Prime Visa and Chase Freedom Unlimited® has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.

Through her work, Sammi has fostered a profound knowledge of credit card products. She enjoys deep-diving into card benefits that people may not know about and helping readers see how they can leverage all the features on their credit cards to save money.

Before joining the personal finance world, Sammi worked in the home appliances and real estate spaces. She wrote product information about appliances and new homes coming to market. Her passion for explaining products to consumers and helping them tackle major financial decisions led her to personal finance writing. When Sammi is not researching and reviewing credit cards, she’s training for her next race or hitting the beach.

“I’m all about cash back credit cards. I love the Wells Fargo Active Cash® Card because it’s an easy way to earn 2% cash back on everything I purchase. We’re a big Amazon household so I also love the Prime Visa. I’ve been able to use my cash back earnings to purchase furniture from Amazon for my home. Finally, the Chase Freedom Unlimited® is my favorite go-to credit card for dining out at restaurants.”